Ready, Set...Respond! [Synchronizing Strategies: Renter Expectations & AI]

Episode Date: June 13, 2024. Understanding the current role of AI in multifamily, how to enhance your knowledge and use of AI, and how to ensure resident satisfaction with AI and new technology with featured guest, Lisa Russell.

1. Get ready for...

2. Director of Research and Performance
ApartmentRatings and SatisFacts
HEY THERE
Your Host
I'm a data-driven marketing communications
strategist with 25 years of multifamily experience.
My knack for simplifying processes and thoughtful
approach to leadership through education offers
a diverse and unique perspective on a wide range
of topics impacting community performance.
Carla J. Alicea

3. Ep. 16: Ready, Set...Respond!
SYNCHRONIZING
STRATEGIES
Renter Expectations & Artificial
Intelligence
That's My Job Guest:
Lisa Russell, CAPS
Multifamily Property & Asset Mgmt
AI Consultant

4. Working In AI

5. Marketing vs. Operations
Predictive
Analytics for
Lead Scoring
1
Resident/
Prospect
Communca
tion
4
Email
Marketing
Optimization
7
Personalized
Content
2
Customer
Feedback
Analysis
5
Dynamic
Pricing
Optimization
8
Chatbots for
Initial Renter
Interaction
3
Fraud
Detection
6
AI-Powered
Targeted
Advertising
9
Real-World
Examples
In the world of multifamily,
the role of artificial
intelligence (AI) is more
significant than you might
realize.

6. A Growing Concern?
More
concerned
than
excited
Equally
excited
and
concerned
At the end of 2023, concern
about artificial intelligence
in daily life far outweighs
excitement.
More
excited
than
concerned
2021 2022 2023
% of U.S. adults who say the increased use of
artificial intelligence in daily life makes them feel...
37
45
18 15
10
46
36
38
52
PEW RESEARCH CENTER
Note: Respondents who did not give an answer are not
shown. Survey conducted July 31-Aug. 6, 2023.

7. A Growing Concern?
How Renters Feel
“I don't mind AI if it's actually going to be smart technology and
have answers to my questions. I also wouldn't mind AI if there is an
option to opt out and speak to a person. You know, you try a few
different things, and your question just isn't being answered.”
“Even though it's a rental or a lease, I still want that human factor
involved where I live so that there's an actual person overseeing
everything and that things are resolved with that human element to
it.”
“I would be worried about signing a lease with a property
management agency in a building where everything is AI, self-
serviced.”
Neutral - Renter #1
Concern - Renter #2
Concern - Renter #5
28 – female – $125,000 - $149,999
31 – female – $125,000 - $149,999
27 – male – $100,000 - $124,999
Are you more
excited or
concerned about
using AI technology
when leasing an
apartment?

8. AI & Customer Service
90%
of people prefer to
get customer service
from a human rather
than a chatbot.
Respondents said that humans:
People prefer to work with a human over a chatbot. Across ages, genders, and
income levels, almost everyone would rather “just talk to a person.”
SurveyMonkey
Note: 2023 CX/AI REPORT with 2201 respondents
Understand their
needs better
Provide more
thorough
explanations
Are less likely to
frustrate them
Give them more
options to address
their problems
53%
52%
51%
NPS® is 72 points
higher for human
service agents
than for AI.
61%

9. A Balancing Act
Balancing
Automation &
Personalization
Automated chatbot
features on the
community’s website
for answers to your
questions
1 Not at all
Important
2 Not
Important
3 Neutral
4 Very
Important
5 Extremely
Important
Ability to easily
communicate with the
apartment community
staff
SatisFacts Research
Note: Survey conducted Sep - Oct 2023.
2.68
4.56
Of all the info you can obtain online, how important
are the following when shopping for an apartment?

10. Reskilling in the AGE of AI
THE 5 NEW PARADIGMS FOR LEADERS AND EMPLOYEES
Harvard Business Review
Sep/Oct 23 Volume: “Reskilling in the Age of AI”
(1) Reskilling is a strategic imperative.
(2) It is the responsibility of every leader
and manager.
(3) It is a change-management initiative.
(4) Employees WANT to reskill—when it
makes sense.

11. Just Getting Started With AI
LinkedIn Learning AI-Powered Coaching

12. Let's Play...
FICTIONFICTION
OROR

13. Get social with us!
What was your biggest takeaway
from today's program?
Right now, share what you learned by
commenting on our post on...
@satisfactseducation
@satisfacts
Comment before 5 pm PT today.
The education team will judge the submissions
and award a $50 gift card for the most insightful
entry.

14. Thanks for
joining us
today!
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